Winnetka Il Real Estate Market Action Report December 2010

Winnetka’s November Property sales were 18, up 125.0% from 8 in November of 2009 and 20.0% higher than the 15 sales last month. November 2010sales were at their highest level compared to November of 2009 and 2008. November YTD sales of 183 are running 32.6% ahead of last year's year-to-date sales of 138.


The Median Sales Price in November was $1,007,500, up 15.6% from $871,250 in November of 2009 and up 6.1% from $950,000 last month.
The Average Sales Price in November was $1,556,562, up 54.0% from $1,010,438 in November of 2009 and up 20.7% from $1,289,333 last month. November 2010 ASP was at highest level compared to November of 2009 and 2008.

The Total Inventory of Properties available for sale as of November was 187, down -13.0% from 215 last month and down -7.9% from 203 in November of last year. November 2010 Inventory was at the lowest level compared to November of 2009 and 2008.The November 2010 Months Supply of Inventory of 10.4 months was at its lowest level compared with November of 2009 and 2008. A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers.


The average Days On Market (DOM) is how many days the average Property is on the Market before it sells. An upward trend in DOM

tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for November was 126, down -30.8% from 182 days last month and up 207.3% from 41 days in November of last year. The November 2010 DOM was at its highest level compared with November of 2009 and 2008.

The Selling Price vs Original Listing Price is the average amount that Sellers are agreeing to come down from their original list price.

The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The November 2010 Selling Price vs Original List Price of 86.8% was up from 84.5% last month and down from 90.7% in November of last year.


The number of New Listings in November 2010 was 22, up
4.8% from 21 last month and up 69.2% from 13 in November of last year.

 

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